By Alex Bivol of The Sofia Globe
Foreign direct investment in Bulgaria in the first five months of the year stood at 505.4 million euro, the equivalent of 1.2 per cent of gross domestic product, according to data from the Bulgarian National Bank (BNB).
In the same period of 2012, the figure was 933.2 million euro (2.4 per cent of GDP), but the original amount reported by BNB was 473.8 million euro, which was revised upward later.
Investment in equity, including in the real estate sector, stood at 347.4 million euro (compared to 377.9 million euro in the same period of 2012) and re-invested earnings accounted for 38 million euro (versus 42.9 million euro in January-May last year).
Receipts from real estate investments by foreign companies totalled 52.2 million euro in January-May 2013, compared to 98.2 million euro during the same period of last year.
The central bank data showed a 120 million euro in investment inflows, recorded as the change in the net liabilities of Bulgarian companies towards their foreign investor owners, down from 512.5 million euro in 2012. Such financial flows include financial loans, suppliers’ credits and debt securities, BNB said.
By country, the largest direct investment in Bulgaria in January-May 2013 came from The Netherlands (254.9 million euro), the Czech Republic (67.1 million euro) and Russia (45.5 million euro).
The largest net negative flows for the period were towards Germany (a net outflow of 29.7 million euro) and France (a net outflow of 6.5 million euro).
Luxembourg recorded the largest total outflow, of 145.3 million euro, which was offset by equity investments worth 151.6 million euro, for a total net inflow of 6.3 million euro.
According to preliminary figures, Bulgarian investment abroad stood at 15.6 million euro in the first five months of 2013, compared to 70.9 million euro in the same period of last year, BNB said.